Dear entrepreneurs, So, you think getting funding will solve all your business problems? Ah, I see. You believe that once an investor writes you a fat check, you’ll suddenly be rolling in profits, sipping champagne on a yacht, and sending out “I made it” tweets or posting those powerful reels on IG depicting luxury? Well… It’s not what you think! Earlier in the week, the story of Edukoya, an edtech startup was all over the news. The Nigerian edtech startup which raised Africa’s largest pre-seed funding of $3.5 million in 2021 shut down !. The company cited market readiness, widespread connectivity issues, and limited access to devices as key challenges. It also highlighted the lack of disposable income and broader macroeconomic conditions, which made mass-market adoption difficult. Now, you see . Funding does not always solve all the problems. In the startup world, funding is often seen as the dream. You imagine a wealthy investor showing up, throwing money at you, and boom—your problems vanish. However in reality many funded startups still crashed and burned because money alone doesn’t fix bad business models. If your revenue strategy isn’t solid, investors won’t save you—they’ll just watch their money burn along with your dreams. You also need to know that Investors Want Control. You think you’re getting a financial partner? Nope. You’re getting a new boss. And they will have opinions. Want to take your time? Investors want speed. Want to focus on quality? Investors want scale. Their money comes with expectations, and “I just want to build at my own pace” won’t cut it. While raising money is cool, making money is cooler. Investors don’t chase ideas—they chase results. So, instead of just chasing funding, chase revenue with equal energy. If you do take investor money, be ready for accountability, structure, and some tough conversations. Funding isn’t free money—it’s a responsibility. Before you chase the next funding, ask yourself : Do I need money, or do I need a better strategy?" Think about it. 😉 Here’s what I have for you today:
Trending Business NewsU.S. Consulate Empowers Nigerian Technicians with Skills and Business Training
The United States Consulate General in Lagos, in partnership with the Field of Skills and Dreams VTE Academy, has launched the Emerging Technicians Conference to equip young Nigerian technicians with the expertise needed to excel in their trades and build sustainable businesses. Get more details HERE AUDA-NEPAD, Meta, Deloitte Launch AI-Driven Platform to Support African MSMEs
The African Union Development Agency (AUDA-NEPAD), in partnership with Meta and Deloitte, has launched AKILI AI, an artificial intelligence-powered platform designed to support Micro, Small, and Medium Enterprises (MSMEs) across Africa. The initiative aims to provide businesses with the digital tools needed to overcome common barriers such as limited access to finance, market challenges, and inadequate advisory support. More details Here World Bank Approves More Funding For NG-CARES 2.0 to Empower More People Across Nigeria, Set to Commence Soon
Following the success of NG-CARES 1.0, the World Bank has approved additional funding, leading to the launch of an expanded initiative—Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES 2.0)—set to commence in June 2025. Read more Nigeria Government to Recruit 37,000 Youths for Livestock Farming
The Nigerian government has unveiled plans to recruit 37,000 youths into livestock farming as part of President Bola Ahmed Tinubu’s Presidential Initiative on Youths and Livestock Development. The program aims to boost livestock production while creating employment opportunities for young Nigerians interested in agriculture. Get more details HERE Google Doubles Cloud Storage Prices for Nigerian Users and 3 other African Countries
Google will increase the cost of its 100GB Google Drive storage plan for Nigerian users from ₦950 to ₦1,900 per month, starting March 28, 2025. The annual subscription will also rise from ₦9,500 to ₦19,000. This price hike, which effectively doubles the current cost, follows Google’s earlier announcement of price increases in select countries. More details HERE Opportunity GaloreCall For Applications: Business Growth Initiative for Startups (BGIS) For Women-led Startups in Nigeria
The Business Growth Initiative for Startups is a program designed to empower growth-stage businesses in Nigeria by providing tailored support, mentorship, and resources to scale sustainably and profitably. This program is fully funded by UK International Development, making it free for selected participants. Get more details and Apply today Call For Applications: African Development Bank ENNOVA program For African Entrepreneurs (Access Funding Opportunities and Capacity-Building)
Ennova is a flagship initiative of the African Development Bank’s long-term strategy to improve inclusive economic development and to accelerate investment in the African Youth. Get more details and apply. Call For Applications: Youth4Climate Call for Solutions 2025 for Youth and Youth-led Organizations(Up to $30,000 in Seed Funding)
The Call aims to fund new and existing youth-led solutions that are ready to implement or scale, and to support the further development of young people’s ideas and projects by providing relevant learning opportunities with the support of partners. Get more details HERE Call For Applications: AREAi Women Techies Africa – Digital Skills Accelerator
Women Techies Africa is a sub-program under the Digital Skills Accelerator (DSA) intervention by the Aid for Rural Education Access Initiative (AREAi) and is open ONLY to adolescent girls, young women or female students in their final year of undergraduate studies across African universities between the ages of 16 – 30. Girls who want to build technology-based and in-demand skills for the creative economy. Get more details here. Call For Applications: Google Creative Fellowship Program 2025
The Creative Fellowship places emerging talent on dedicated creative teams at Google, gaining exposure and hands-on experience across many of their in-house creative departments. The 6-month program aims to provide an enriching experience, while ushering in a dynamic network of creative talent with fresh perspectives and a strong “maker-first” approach. Get more details and apply HERE You can access many more opportunities HERE Fun Facts about EntrepreneurshipDid you know that evidence shows that as early as 10,000 years ago, African entrepreneurs (a.k.a. early farmers) in present-day Sudan and Ethiopia were among the first humans to domesticate crops like millet and sorghum. They didn’t just grow food; they built trade networks! These early agripreneurs figured out that surplus crops could be bartered for tools, livestock, and even luxury goods. Some Resources For YouBurning and Rising in a Tough Market, Here is the Story of Amara, a Small Business Owner How to deal with the pressure of being a Founder How to Effectively Engage Your Employees as a Small and Medium-sized Business Owner _______________________________________ For more news, opportunities, resources, and other items, kindly visit: www.msmeafricaonline.com Follow us on social media: YouTube , Instagram, Twitter (X), Facebook, LinkedIn Join other Entrepreneurs across Africa in the MSME Africa Community HERE Till next time Olu, MSME Africa MSME Africa Pulse is free today. But if you enjoyed this post, you can tell MSME Africa Pulse that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments.
|
Saturday, 1 March 2025
It’s Not What You Think
Subscribe to:
Post Comments (Atom)
-
24/7 Nigeria News Update ENJOY THIS AWESOME DEAL THIS RAMADAN SEASON ON OUR UK USED AND NEW SMARTPHONES.WE ARE OFFERING 30% DISCO...
No comments:
Post a Comment